
Moreno Valley, California 92557
Analysis of 24380 Ironwood, Moreno Valley, California 92557 is currently available with a list price of $749,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Moreno Valley Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
The property is a well-maintained 1949 triplex that benefits from significant recent capital improvements, including a new roof (2023), mini-split HVAC systems (2022), and recent exterior paint. However, the interiors remain dated with older tiled countertops in the kitchen, basic cabinetry, and vintage wall heaters. While functional and move-in ready for tenants, the overall aesthetic and core infrastructure reflect its age rather than a comprehensive modern renovation.
The property features below-market rents and a massive 19,602 sqft lot, offering significant upside through rent adjustments and the potential to add an additional ADU to increase total yield.
Major maintenance items have been recently addressed, including a new roof (2023), mini-split HVAC systems (2022), and updated exterior paint, significantly reducing immediate CAPEX requirements.
Situated north of the 60 freeway in a developing pocket of Moreno Valley, the property is just a block from new retail anchors like Sprouts and Starbucks, ensuring long-term tenant demand.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2150, other record living area = 1000.
Originally built in 1949, the property may possess aging core systems typical of older structures that require more frequent monitoring than modern builds, despite recent surface-level upgrades.
Current rents are significantly below market value, requiring a new owner to navigate the management effort of rent increases or tenant turnover to achieve a competitive capitalization rate.
Back on the market, buyer couldn't perform! Appraised at $750,000. Pride of ownership triplex on a large lot in growing area of Moreno Valley. New Sprouts, Starbucks and more just opened a block away. Triplex consists of a 2 bed, 1 bath front house, and two 1 bed, 1 bath units in the back. All units have their own garage. New roof installed in 2023. Property has long-term, reliable tenants that are all month to month. One unit could be available for owner-user to move in. Rents are below market and provide an opportunity for an investor to increase rents or for someone to move into one of the units and make rental income off of the others to offset the mortgage. Plenty of space for parking or even adding an additional unit. Property has been well maintained by property owner. Great location north of the 60 freeway. Short distance to Riverside, Ontario, Palm Springs, etc. Other recent upgrades include: Mini splits for back units in 2022, exterior of the house was painted back in 2020, interiors were painted within the last 5 years, new roof in 2023, new front house water heater in 2021, new wood fence along back of property, separating backyards in 2023. Revenue and operating expenses provided by owner as accurately as possible. Buyer to complete due diligence.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1949 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Apr 1, 2026
$749,000
$759,000
-1% Price Drop
Initial Listing
Mar 28, 2026
$759,000
$769,000
-1% Price Drop
Initial Listing
Mar 20, 2026
$769,000
$749,500
+3% Price Increase
Initial Listing
Dec 9, 2025
$749,500
$795,000
-6% Price Drop
Initial Listing
Nov 23, 2025
$795,000
Initial Listing
Aug 7, 2015
$165,000
Public Record